Given the following gross income multipliers: 5.9, 6.2, 5.7, 6.3, 6.4, 6.0, 5.5, 5.8, 6.3, 6.9, what is their range?

Given the following gross income multipliers: 5.9, 6.2, 5.7, 6.3, 6.4, 6.0, 5.5, 5.8, 6.3, 6.9, what is their range?

• A. 5.5-6.9
• B. 5.7-6.3
• C. 1.2
• D. 1.4

Answer: (D)

To determine the range of a set of data, you calculate the difference between the maximum and minimum values in that set. In this case, the gross income multipliers provided are: 5.9, 6.2, 5.7, 6.3, 6.4, 6.0, 5.5, 5.8, 6.3, 6.9 First, identify the maximum value, which is 6.9, and the minimum value, which is 5.5. The range is then computed by subtracting the minimum from the maximum: Range = Maximum - Minimum = 6.9 - 5.5 = 1.4 Thus, the correct range of the gross income multipliers is 1.4. This is a key concept in statistics as the range provides a measure of variability within a data set, indicating how spread out the values are.

To determine the range of a set of data, you calculate the difference between the maximum and minimum values in that set. In this case, the gross income multipliers provided are:

5.9, 6.2, 5.7, 6.3, 6.4, 6.0, 5.5, 5.8, 6.3, 6.9

First, identify the maximum value, which is 6.9, and the minimum value, which is 5.5. The range is then computed by subtracting the minimum from the maximum:

Range = Maximum - Minimum = 6.9 - 5.5 = 1.4

Thus, the correct range of the gross income multipliers is 1.4. This is a key concept in statistics as the range provides a measure of variability within a data set, indicating how spread out the values are.